In an effort to find the cash necessary to keep his country afloat, Greek Prime Minister Alexis Tsipras ordered local governments to move their funds to the central bank on Monday. According to people familiar with the decision, the decree to confiscate reserves – now held in commercial banks – and transfer them to the central bank could raise about €2 billion. With negotiations over bailout aid currently deadlocked, Tsipras very much needs cash for salaries, pensions, and a repayment to the IMF. Erin weighs in.

Then, Erin is joined by Richard Heinberg – senior fellow at the Post Carbon Institute and author of “Afterburn: Society Beyond Fossil Fuels.” Richard tells us why it matters that conventional oil production peaked. He also opens on whether the glut in output from tight oil formations is going to last and what impact that situation will have on oil prices over the next two years.

After the break, Bianca gives us a news update on other business headlines of the day including earnings, the California drought, and corporate tax reform.

Afterwards, Ameera sits down with Bryan Caplan – professor of economics at George Mason University and blogger at EconLog. Bryan explains his frustrating with voting and gives us his take on why a surprising number social science professors identify with Marxism.

And in The Big Deal, Erin and Edward discuss China’s slowing economic growth.

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https://www.youtube.com/watch?v=53uoeUCXmoM